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The partnership plans to build 600K SF of industrial space at the property.
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The planned investment with Texas Teachers is even larger than a previous deal Bridge has with Canada Pension Plan Investment Board.
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The Montreal, Canada-based developer wants to enter the U.S. market in 2025 or 2026.
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Values have started rising after a sharp fall in the UK industrial market.
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The deal values the portfolio at $1.2B.
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The South Florida industrial market is showing signs of growth and resilience, and BBX Logistics Properties is focused on development.
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While still tight, the market's vacancy rate is more than double what it was last year.
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Houston's industrial supply pipeline is slowing down, which experts say can give already strong absorption a chance to catch up.
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Pennsylvania's industrial markets outside of Philadelphia finally came back down to earth in the third quarter after years of furious growth.
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Large pre-leases are rare these days as the industrial market cools.
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